The vegetable oil market size in Turkey witnessed fluctuating growth from 1.2 million metric tons in 2014 to 1.37 million metric tons in 2023. The year-on-year growth rate showed significant variations, peaking at 5.43% in 2015 and declining to -1.87% in 2018. In recent years, the growth has stabilized to a modest 0.59% in 2023. The CAGR for the last five years stands at 0.81%, indicating steady, albeit slow, growth.
Looking forward, the market is expected to increase from 1.38 million metric tons in 2024 to 1.41 million metric tons by 2028, with a forecasted 5-year CAGR of 0.46% and an overall growth rate of 2.33% during this period. Future trends to watch for include advancements in sustainable and organic vegetable oil production, shifts in consumer preferences towards healthier alternatives, and potential regulatory changes within the agricultural and food industries.
